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ABB India, part of Swedish-Swiss multinational automation company, has posted a 36 per cent growth in net profit in Q2 of calendar year 2018. Its net profit rose to ₹102 crore, against ₹75 crore in the corresponding period last year.
Revenue for the quarter stood at ₹2,713 crore, up 21 per cent over the prior year period, the company said in a statement. It noted that the maturing cycle of the ₹4,250-crore order for the Raigarh-Pugalur 800 kV ultrahigh-voltage direct current system, as well as offerings in the medium voltage portfolio and “a nascent revival in the process industries” could offset competitive pricing pressures in the solar segment. Total orders increased from ₹2,303 crore a year ago to ₹2,474 crore during the quarter.
The majority of orders came from clean energy, process industries and power infrastructure, especially in South Asia. Export orders grew 68 per cent year-on-year.
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